Gold News

Slight Gains in Early London Trade

Gold
and silver traded modestly lower in Asia and rose to see slight gains
in early London trade before they both plummeted shortly after 8AM
EST and dropped to as low as $874.30 and $12.13 by about 9AM in New
York, but they both then stormed back higher for most of the rest of
trade and gold ended with a loss of just 0.34% while silver ended
near its late session high of $12.40 with a loss of just 0.36%.

Euro
gold rose to about €760, platinum gained $11.50 to $1186.50, and
copper gained over 7 cents to a new 5 month high at about $2.07.

Gold
and silver equities traded in a tight range of roughly 1% on either
side of unchanged and ended slightly lower.

There
are still extremely large (legal and otherwise) short positions in
junior gold & silvers plus junior producers of both remaining
uncovered as the ability TO POUND LOWER is coming to an end.  The
short of gold on the COMEX, the short of gold in everything gold and
silver is incestuous.

Chris Mullen is chief content manager of the GoldSeek family of websites, a leading source of gold news, comment and mining-stock data for private and institutional investors.

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